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Booking in US dollars versus euros versus huf

Posted by (Allentown, PA, USa) on

I’m confused what to do—whether to book directly or with a travel agent. I plan on using a credit card with no foreign transaction fees. I’m booking six nights, so it’s a decent amount of $$.

When I look at booking a hotel in Budapest, I’m usually given the price in Euros,( there doesn’t seem to be an option to get huf.). I look at a conversion, and see the current usdollars. I understand that my conversion will fluctuate when I actually get there in May. However, the rate of the hotel in euros should’t change, I’m guessing. I’m not sure though because they aren’t giving me a price in huf…

The travel agent we are using for the river cruise gave me quotes on the same hotels, but in US dollars. They are pretty comparable to the current exchange rate. She said the advantage is that the price won’t change in May—guaranteed these rates in US dollars at the time of check out.

I’m not used to using a travel agent, so I don’t know if she is feeding me wrong information. And I don’t understand why the hotel is showing me euros, and whether they will then charge me more because of DCC ( another thing I can’t quite grasp). I usually go for cancellable rates because then I feel like I don’t have to take trip insurance on the hotel, also because you never know.

I’d appreciate some advice on which way to go. Thank you in advance.

Posted by
25434 posts

Yes, we are on the Forint (HUF) in Hungary, but there are Euro bank accounts and any international company like a hotel will tend to want to collect in Euros.

Most hotels here will quote you in Euros. However, a lot of them on their booking website allow you to pick a currency. But that just means they are doing the conversion for you and I am not sure how good a deal that is.

If you want to fix the cost so it cannot change, then pre-pay. Of course, if you don’t show up, you are out the money. You could cover that with trip insurance, but you would still have to meet the terms of the trip insurance.

As for locking in dollars now, so you are protected. Well, the conversion is so bad right now that if it were to get worse, we would all be up the proverbial creek without a paddle. I don’t gamble, but if I did, I would gamble that the conversion rate will improve by May and if it did get worse it would only be by a penny on the euro. I am surprised if any hotel in Budapest will lock in a rate in US dollars without you prepaying. But I could be wrong.

Did you check the travel agent’s prices against the hotel booking sites? Be sure to do a one to one, meaning same cancellation policy, room type and breakfast or not breakfast. I tend to hire trip planners from time to time. I am working with one right now, but I pay for the service and book my own stuff. I am a control freak that way.

Did any of that help? Which hotel if you don’t mind saying?

Posted by
5937 posts

I guess I would also compare the price of hotel booking direct or through a travel agent, not just an exchange rate.

When I book via booking.com, it gives me a rate in dollars, euros OR forints (I can change my setting). But if I don’t prepay, then I end up with the exchange rate whenever the bill comes due (whenever that is). The rate is quoted in dollars (I have mine set that way for convenience) but the amount due will be based on local currency with the exchange rate at time of payment. It’s a guess which way is better financially. But basically when someone quotes you a price in euros or dollars, they are using an exchange rate set by them.

For pre-payment of things: I have made a few prepayments (not usually hotels), had to cancel, gotten a full refund, but lost money because of the exchange rate (once or twice made a few cents also).

Honestly (although I feel silly giving financial advice), I would look at the price if you book the hotel yourself versus the price she is quoting you, and definitely not prepay either way.

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